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Deutsche Bank offices raided in connection with Panama Papers

Police in Germany have raided the offices of Deutsche Bank in connection with the Panama Papers revelations and as part of an investigation into alleged money laundering.

About 170 police officers, prosecutors and tax inspectors searched six Deutsche Bank offices in and around Frankfurt, the public prosecutor’s office said. Investigators are looking into the activities of two Deutsche Bank employees who allegedly helped clients to set up offshore companies to launder money, it added.

The Panama Papers, published by the Guardian and a consortium of international journalists in April 2016, revealed how offshore tax havens including the British Virgin Islands were used to hide billions of dollars.

The prosecutor’s office said it had seized written and electronic business documents. Police cars were parked outside the headquarters of the bank, Germany’s biggest lender.

In a statement Deutsche Bank said it would “cooperate closely with prosecutors”,